Mar 24 - Mar 30, 2003  
ISSUE # 12  

The historic occasion of Pakistan Day was observed in the backdrop of US-led war against Iraq giving moments of concerns and anxiety to the people who respect in freedom of others.
The consistency of the economic decisions taken by the present government in 1999 has succeeded in giving a turn around to the national economy. It is for the first times that the economy is very close to almost all-economic goals set for the years. The foreign exchange reserves are set to gain an unprecedented height of $11 billion; export targets are within reach.
The most outstanding feature of the fiscal discipline is that the country is heading

towards the position where the size of nasty debt servicing will be reduced from 75 per cent to 25-30 per cent in next two years. This would enable the economic managers to provide adequate funds for social, health and education sectors. The situation,

however, calls for the best use of the economic gains achieved so far, as nothing succeeds like the success.




The latest fortnightly revision of petroleum prices pushing the retail prices to new highs on the 16th of this month has drawn sharp reaction from the business, trade and industry. The reaction to the record petroleum prices threatens to push production, transportation costs as well as steep rise in a prices of raw materials used in the manufacture of goods in the country.


More countries are being admitted to the European Union (EU). Under the GSP system Pakistan, alongwith a total of 180 countries, enjoys concessional tariff rates on its exports to the Union. While the enlarged EU offers new opportunities, these are not without certain threats.